July 3, 2022


Barclays has agreed a £3 million credit score facility with Loretto, Scotland’s oldest boarding college, to accelerate its extended-term strategic progress designs.

The significant funding bundle will help the impartial school’s advancement ambitions, while also furnishing even more accessibility to working cash. Loretto has also transferred all of its working day-to-working day banking to Barclays.

Launched in 1827 and established in an 85-acre campus in Musselburgh, just outside the house Edinburgh, Loretto is a single of Britain’s top co-academic boarding and working day faculties, attracting pupils from both of those home and overseas. For pupils aged between a few and 18 decades the 600-pupil faculty has top artistic arts and sports activities facilities, including the renowned Loretto Golf Academy that draws in youthful golfers. The university has a staff to pupil ratio of 1:7, across each its junior and senior educational facilities.

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Barclays labored together with Loretto, and its bursars, to build a bespoke electronic banking resolution that particularly fits the wants of the school’s growth ambitions. The credit facility will assist Loretto in protecting its existing infrastructure, while offering supplemental liquidity to continue to invest in state of the art academic tools and services. With a escalating roll of pupils, the flexibility of the funding package will support Loretto in continuing to provide a extensive instructional practical experience.  

Barclays is also capable to specially cater for international parents of Loretto college students by providing a receivables overseas trade resolution which means university charges can be compensated by parents at no further value to the faculty.

Dr Graham Hawley, Headmaster at Loretto School, said: “The funding package from Barclays will gas our extensive-expression strategic expansion options, and drive ahead our motivation to our pupils of steady advancement in all factors of faculty everyday living.

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“The final decision to convey in Barclays as our banking companion was largely because of to Barclays’ shared enthusiasm to function with us to guidance the long run enhancement of the school but also their market information of the sector together with their connection company design, competitive phrases and steady supply.”

Malcolm Crawford, Company Advancement Director for Barclays in Scotland, explained: “Working with Loretto to deliver a funding remedy to empower the college to deal with its operating capital needs, and provide balance, was an great option for the team to assistance the school’s ambitious growth options.

“Scotland has a environment-top independent schooling sector, and our staff of devoted sector authorities fully grasp and have insight into the exceptional needs of operating a company of this types. This funding package is proof of our support for, and confidence in, this rising sector.”